...Business Information Systems Learning Outcomes Week 5 DECISION-MAKING SYSTEMS 1. Explain the importance of decision making for managers at each of the three primary organisation levels, along with the associated decision characteristics. * Meaning of decision making * Decision making is a process of selecting the best among the different alternatives. It is the act of making a choice. There are so many alternatives found in the organization and departments. Decision making is defined as the selection of choice of one best alternative. Before making decisions all alternatives should be evaluated from which advantages and disadvantages are known. It helps to make the best decisions. It is also one of the important functions of management. Without other management functions such as planning, Organizing, directing, controlling, staffing can’t be conducted because in this managerial function decision is very important. According to Stephen P. Robbins, “decision making is defines as the selection of a preferred course of action from two or more alternatives.” * Importance of decision making * Implementation of managerial function: Without decision making different managerial function such as planning, organizing, directing, controlling, staffing can’t be conducted. In other words, when an employee does, s/he does the work through decision making function. Therefore, we can say that decision is important element...
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...Applications Vol. 7, No. 2, March, 2013 Integrating Knowledge Management with Business Intelligence Processes for Enhanced Organizational Learning Rizwan Shehzad and Muhammad Naeem Ahmed Khan Department of Computer Science Shaheed Zulfikar Ali Bhutto Institute of Science & Tech., Islamabad, Pakistan rizince@yahoo.com, mnak2010@gmail.com Abstract Knowledge Management (KM), either in a tacit or explicit form, plays an important role in decision making. Business Intelligence (BI) has acquired significant importance in the business world due to the recent technological advancements and availability of state-of-theart software tools. Presently, most of the organizations across the globe are adopting BI solutions to promote business, retain customers, earn maximum profits, reduce recurring expenditures, etc. KM, on the other hand, has not gained significant acknowledgement from an implementation perspective. Moreover, the effect of BI on KM and vice versa is rarely observed. In this paper, we propose a model where KM and BI can benefit from each other. Since both of the said fields have a wide range of features, the proposed model is based on specific features. For that purpose, we have identified a number of Critical Success Factors (CSFs) related to both BI and KM technologies reported in contemporary research. Afterwards, we have drawn a comparison pertinent to the effectiveness of these CSFs with the similar research studies. The comparison shows that our model that...
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...[1] Firms must assess why customers chose to use one firm over another. The answers responded to this question can be broadly categorised into two reasons: 1. The price of the product or service is lower. 2. The product or service is perceived to provide better ‘added value’ to customers. Decisions on the above questions will determine the generic strategy options for achieving competitive advantages. According to Porter (1980), there are three potentially successful generic strategic approaches for firms to sustain competitive advantages and outperforming over rival firms on their products or services. He classified these strategies as the followings: 1. Overall cost leadership: means being the lowest-cost producer in the market or industry. 2. Differentiation: means making or creating a product or services that is perceived by industry-wide as unique for which customers willing to pay a premium. 3. Niche Focus: means serving a narrow strategic target more effectively than rivals who are competing more broadly in either cost focus or differentiation focus. Porter (1980) uses the term ‘generic’ because they are widely applicable to firms of all sizes and in all industries. For example, firms can compete on either price-based strategies that serving prices to sensitive segments of the marketplace or they can choose to pursue a differentiation strategy which seeks to be unique on dimensions valued by buyers, such as product design, branding, performance...
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...Jacob Moore GBA 673 Business Intelligence Jacob Moore GBA 673 Dr. Lara Preiser-Houy, CDP August 20th, 2013 1|Page Jacob Moore GBA 673 Table of Contents Abstract ....................................................................................................................................................... 3 Introduction ............................................................................................................................................... 3 Background ................................................................................................................................................ 4 Conceptualization ..................................................................................................................................... 4 BI 1.0 ......................................................................................................................................................... 4 BI 2.0 ......................................................................................................................................................... 5 BI 3.0 ......................................................................................................................................................... 5 Opportunities ............................................................................................................................................ 6 Challenges ........................................
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...International Conference on Technology and Business Management March 28-30, 2011 Conceptual Framework for E-CRM Project Deployment in Indian Banks Ashwini Atul Renavikar ashvinirenavikar@yahoo.co.in University of Pune Sharad L Joshi sharadljoshi@gmail.com Marathwada Mitra Mandal Institute of Mgt Education, Res and Training, Pune A survey of Database Group (2006) has revealed that approximately 65% of the financial institutions have failed in getting expected benefits from huge investments in CRM technology. Another finding of the study conducted by I-L Wu and K-W Wu (2005) approximately 60% of the web-based CRM software (e-CRM) installations are failures. With these findings at the background the researchers have attempted to study the aspect of e-CRM deployment in 11 Indian banks (34 branches) with specific reference to banks in Pune and Mumbai. The study has been conducted in a sectoral comparison of public, private and cooperative banks. The study has contributed to the body of knowledge by suggesting a conceptual framework – PCM-PPT framework which is a result of quantitative and qualitative analysis of responses by bankers and e-CRM consultants. Keywords: e-CRM, Relationship Marketing, McCall’s Quality Factors 1. Introduction Customer relationship management (CRM) is that part of an enterprise’s business strategy that enables the entire enterprise to understand, anticipate and manage the needs of any current and potential customers. CRM is not an event or a technology...
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...What value does the organization get from investing in metrics? What is Performance-Based security? Measuring security performance means assessing business and security results to: (1) determine how effective the strategies and operations are and (2) make changes to address shortfalls and other problems. There are different methods and criteria for measuring performance. However, the common strand through each is the ability to measure the results generated by core business processes, using specific metrics. For each process, there are many possible metrics. Why should Security Organization’s Measure? * Improvement: Understand your strengths and your weaknesses. Show continuous improvement over time. * Planning and forecasting: Performance metrics creates a progress trend line allowing organizations to not only be clear on their current performance position but also forecast their future condition based on the data * Technology Lifecycle Management: Performance metrics are non-existent for the up-time metrics of the hardware and software that security uses. But this ‘viability index’ can measure service costs, availability costs, levels of risk incurred with downtime, and the lifecycle of the total solution. * Security as ‘friction’ or ‘lubricant’ to company value: When Security interacts with core business processes, is it an obstacle to company...
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...Approaches . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Figure 4-1 Figure 4-2 Figure 4-3 Figure 4-4 5: Human Resource Focus Strategic Planning Process Strategies and Action Plans Performance Projections . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Figure 3-1 Figure 3-2 Figure 3-3 30 Compensation Systems Performance and Development Process/Career Management Training and Delivery Methods Health & Safety Ergonomics Employee Benefits and Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Figure 6-1 Figure 6-2 Figure 6-3 7: Business Results Leadership Direction Communication Processes...
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...Success Factors in Enhancing Managers Success in Managing International Business Dzulfakar Bin Abdullah (Student no: 20131241445) UiTM Programme Code : BM 995 (Doctor of Philosophy in Business Management) Course Code : MGT 950 (Global Strategic Sustainable Management) Assignment 3: Theoretical Paper Lecturer : AP Dr Roshidi Hassan ABSTRACT Business life in the new millennium is becoming increasingly global. The concepts of globalization apply to both large multi-national corporations as well as to local organizations. Knowledge of local culture and politics has become critical success factors (CFSs) for multi-national corporations in their effort for global expansion. Thus in enhancing the success of managing international business (IB) managers must have knowledge of local cultures and political situations. Research on the impact of local culture and political stability on successful management of international business has become of interest only recently due to globalization process. The paper reviews several literatures that try to prove that knowledge of culture and political situation as CFSs for the success of managing international business. Keywords: Critical Success Factors (CFSs), Knowledge, Culture, Politics, International Business, Success. Knowledge of Cultures and Politics as Critical Success Factors in Enhancing Managers Success in Managing International Business Introduction Globalization and international market development...
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...measures for KM success are required on multiple dimensions. This paper thus also presents a set of dimensions with measures that can be used to determine if KM in an organization is successful. Stefan Smolnik European Business School (EBS) Stefan.Smolnik@ebs.edu David Croasdell University of Nevada, Reno davec@unr.edu begin to identify instruments that can be used to operationalize these measures. Besides presenting some background on KM success, the paper also offers a series of perspectives on KM/KMS success. These perspectives were derived from an analysis of academics and practitioners’ definitions of KM/KMS success. 2. Background on KM Success After summarizing various definitions of KM, Jennex defined KM success as reusing knowledge to improve organizational effectiveness by providing the appropriate knowledge to those who need it when it is needed [13]. KM is expected to have a positive impact on the organization that improves organizational effectiveness. DeLone and McLean use the terms success and effectiveness interchangeably; one of the perspectives proposed in this paper does likewise in respect of KM [7], [8]. Jennex and Olfman summarized and synthesized the literature on KM/KMS’s critical success factors (CSF) into an ordered set of 12 KM CSFs identified from 17...
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...Why Is Environmental Scanning Important? All organizations need to monitor at some level what goes on in their environments and recognize their strengths and weaknesses in relation to it. The importance of environmental information depends on the degree to which the success of the organization itself depends on its environment. In the business literature, this dependency of the organization on its environment is referred to as perceived environmental uncertainty (PEU). Gordon and Narayanan (1984) identified factors that determine PEU. These factors include the nature of the society, economic stability, legal stability, political constraints, the nature of the industry, the customer base and the nature of the organization. While PEU varies from industry to industry, the level of recognition of the importance of the environment also varies from company to company, as does the reaction of companies to their environment. Khandwalla (1977) identifies three possible relationships between organizations and their environments: Dominant organization/dominated environment Dominant environment/dominated organization Symbiotic relationship – neither the environment nor the company dominates. The relationship between an organization and its environment depends upon the internal strengths and weaknesses of the company, which means that an opportunity for one company will be viewed as a threat to another company, depending on how well each is positioned to deal...
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...Reference journal for getting an Idea on how to write the term paper. Journal of Industrial Engineering and Management is a semestral, open access scientific journal that publishes theoretical and empirical peer-reviewed articles, which contribute to advance the understanding of phenomena related with all aspects of industrial engineering and industrial management. JIEM includes contributions, but not limited to, in the following fields: (1) Production, Logistics, Quality, and Operational Research; (2) Information Systems, Technology and Communication; (3) Industrial Economics and Regional Development; (4) Management, Organizational Behaviour and Human Resources; (5) Finance, Accounting and Marketing; and (6) Education, Training and Professional Skills. Term Paper can focus on Mapping new frontiers in emerging and developing technology areas in research, industry and governance.. Some Abstracts which emphasis on the Technology and Marketing. These are abstracts of articles which are already published. These are for your reference and you can start working in the same way concentrating on Technology and Marketing. * Trial-and-Error Marketing: The Role of the Customer in Tech Start-ups by Fabian Eggers, Deborah Brown McCabe Abstract: This paper explores the role of a customer- or product-centric focus in young technology firms decision-making and whether the behaviors of these firms differ from textbook marketing. rnData from depth interviews with founders of growth-stage...
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...Running Head: BUSINESS INTELLIGENCE A REVIEW OF LITERATURE Business Intelligence: A Review of Literature Richard Clark Liberty University Abstract An explorative and descriptive review of literature on Business Intelligence (BI). It presents various definitions of the term “Business Intelligence” and determines that regardless the definition is a “means” to “end”, which sound business or organizational decision making, specifically in strategic planning and management. It also presents several important differentiation of Business Intelligence from data-centric technologies, and enterprise applications. It describes business intelligence architecture and its components. It identifies capabilities and benefits to be derive from it, barriers to its successful implementation, and critical success factors. It identifies BI software vendors, trends and forecast, and ethical considerations. It concludes with a conceptual framework that shows business intelligence as a process that produces intelligence necessary for strategic planning and management, that in turn results to a strategy that creates competitive advantages. This paper is an explorative and descriptive review of literature on Business Intelligence (BI). An exploratory research as the name suggests explores a problem or a situation with the purpose of defining an ambiguous problem. It is undertaken from the perspective of a student in management and of an IT “dummy”. Consequently, the review strategy is...
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...GLOBAL BUSINESS STRATEGIES Analysis of the Global Competitive Environment Lecture 2 Analysis of the global competitive environment • External analysis can be divided into 2 linked processes: – Micro‐environmental analysis • competitive or near environment ‐ industry, market & strategic group – Macro‐environmental analysis • broad business or far environment STEP analysis • External analysis identifies opportunities and threats through continuous learning about the global and local business environments Industries and markets • An industry consists of a group of businesses producing / supplying similar products (goods or services) using similar: – – – – resources, skills, competences, technology processes and value adding activities materials supplier channels and distribution channels Markets • A market is defined in terms of shared: – – – – – products or services customers customer needs distribution channels Competitors Why the distinction between industry and market? • Businesses develop core competences within an industry which are then deployed in markets to satisfy customer demands – An industry can serve more than one market – A market can be served by more than one industry Analysis of the competitive environment • This involves assessing: – the extent of globalisation in the industry and market ‐ Yip’s globalisation driver framework – the nature and extent of competition ‐ Porter’s five forces...
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...5/31/2011 LEVERAGING CLOUD COMPUTING FOR GREATER BUSINESS AGILITY Ramesh Shanmuganathan Executive Vice President / Group CIO 1 John Keells Group 4 th June 2011 AGENDA TODAY’S BUSINESS CONTEXT DEMYSTIFYING CLOUD COMPUTING WHY CLOUD COMPUTING? WHAT ARE MY OPTIONS? WHAT DO I NEED TO CONSIDER? HOW DO I GET ON BOARD? CRITICAL SUCCESS FACTOR KEY TAKE AWAY! 2 TODAY’S BUSINESS CONTEXT 3 1 5/31/2011 Today’s Business Context ►Global competition ►Rampant Change ►Faster flow of information and communication ►Increasing Business Complexity ►Pervasive Globalisation 4 Forces Driving the New Economy ►Knowledge : Intellectual Capital ►Change : Continuous rapid and complex ►Globalization : in R&D, technology, production, trade, finance, communication and information, which has resulted in opening of economies, global hypercompetition and interdependency of business. 5 IT NEEDS TO ADAPT TO THE BUSINESS CONTEXT Robust IT, Services, and Solutions based Foundation Dynamically adapts to changing business conditions Tightens link between IT and business objectives Anticipate and rapidly respond to new market requirements Create and capture new opportunities Includes: Technology, Services and Solutions 6 2 5/31/2011 IT NEEDS TO DELIVER DECISION READY INFORMATION 7 “4” critical Qs “Data is exploding “New business & and it’s in silos” process demands ” I Need Insight How can we take advantage of the wealth...
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...1. The quality of ubiquity, as it relates to e-commerce, is illustrated by A) the same set of standards being used across the globe. B) the spread of plentiful, cheap information. C) the enabling of commerce worldwide. D) the availability of the Internet everywhere and anytime. 2. Which of the following is not one of the unique features of e-commerce technology? A) information density B) transparency C) richness D) social technology 3. The act of engaging consumers in a dialog that dynamically adjusts the experience to the individual describes which dimension of e-commerce technology? A) ubiquity B) personalization/customization C) richness D) interactivity 4. The integration of video, audio, and text marketing messages into a single marketing message and consumer experience describes which dimension of e-commerce technology? A) ubiquity B) personalization/customization C) richness D) interactivity 5. The effort required to locate a suitable product is called A) price discrimination. B) search costs. C) menu costs. D) shopping costs. 6. Information density refers to the A) complexity and richness of a message. B) total amount and quantity of information delivered to consumers by merchants. C) total amount and quantity of information available to all market participants. D) amount of information available to reduce price transparency. 7. Selling the same goods to different targeted groups at different prices...
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